Virnetx (NASDAQ:VHC) Announces Quarterly Earnings Results

Virnetx (NASDAQ:VHC) released its earnings results on Friday. The company reported ($1.20) EPS for the quarter, FiscalAI reports.

Virnetx Trading Down 3.2%

NASDAQ:VHC opened at $15.00 on Friday. The stock has a 50 day moving average of $12.76 and a 200-day moving average of $14.71. The firm has a market capitalization of $62.79 million, a PE ratio of -2.79 and a beta of 2.30. Virnetx has a 52 week low of $9.82 and a 52 week high of $29.00.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Wall Street Zen raised Virnetx to a “sell” rating in a research report on Sunday, July 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Virnetx in a report on Thursday, June 18th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VHC. Csenge Advisory Group acquired a new stake in Virnetx in the second quarter worth $868,000. BlackRock Inc. acquired a new position in shares of Virnetx during the second quarter valued at $840,000. Williams Jones Wealth Management LLC. grew its position in shares of Virnetx by 19.0% during the fourth quarter. Williams Jones Wealth Management LLC. now owns 100,165 shares of the company’s stock worth $1,672,000 after acquiring an additional 16,000 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Virnetx by 9,676.5% during the third quarter. JPMorgan Chase & Co. now owns 4,986 shares of the company’s stock worth $85,000 after acquiring an additional 4,935 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Virnetx by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 172,337 shares of the company’s stock worth $2,947,000 after acquiring an additional 4,815 shares during the period. Institutional investors and hedge funds own 10.37% of the company’s stock.

About Virnetx

VirnetX Holding Corp. is a U.S.-based technology company focused on secure communications and network security technologies. The company develops, owns and licenses intellectual property covering methods and systems for encrypted communications, virtual private networks and secure domain name resolution. VirnetX’s work centers on technologies designed to protect data in transit and enable private, authenticated connections across public networks.

VirnetX’s offerings are primarily deployed through licensing arrangements and technology integrations rather than through mass-market consumer products.